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Current Report no. 11 (2018)

20 march 2018

Conditions of issuance of own bonds by Bank Zachodni WBK S.A. - F-series subordinated bonds

In relation to report no. 4/2018 of 7 February 2018, the Management Board of Bank Zachodni WBK S.A. ("Bank") hereby informs you that on 20 March 2018, it decided to issue F-series subordinated bonds ("Bonds"). The parameters of the issue are as follows:

  1. The settlement of the issue will take place on 5 April 2018 ("Issue Date").
  2. The total nominal value of the Bonds will be PLN 1,000,000,000.
  3. The Bonds will be issued under the Polish Bonds Act of 15 January 2015. Upon obtaining the required consent of the Polish Financial Supervision Authority ("KNF"), funds obtained from the issue of the Bonds will be used to increase the Bank's supplementary funds based on Article 127(2)(2) of the Polish Banking Law Act and Article 63 of the Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013.
  4. The issue will be a 10NC5 issue, i.e. the Bonds will have a 10-year maturity and the Bank will become able to redeem all Bonds early (upon the KNF's consent) after the lapse of 5 years since the Issue Date.
  5. The nominal value of one Bond will be PLN 500,000.
  6. The Bonds' issue price will be equal to their nominal value.
  7. The Bonds will bear a floating interest rate equal to the sum of 6M WIBOR and the margin of 1.6%.
  8. All benefits arising from the Bonds will be cash benefits.
  9. The Bonds will not be secured.
  10. The Bonds will be issued as dematerialised bearer Bonds. On the Issue Date, they will be registered in the securities depository kept by Krajowy Depozyt Papierów Wartościowych S.A.
  11.  The Bank will apply for the admission of the Bonds to trading in the Alternative Trading System on the Catalyst market.

Legal basis:
Article 17(1) of Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (market abuse regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC.

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